Henry Boot PLC Q2 2026 Earnings Recap

Henry Boot reported a weaker-than-expected performance by its own assessment, with revenue down 19%, an operating loss and higher gearing; the stock was roughly flat, down 0.4%. The interim dividend suspension and ongoing work to amend full-year covenant requirements underscore the near-term balance-sheet pressure.

Key Takeaways

• Revenue fell 19% to just below £81 million, reflecting lower transactional activity across all markets.
• The group recorded a £3.9 million operating loss; land promotion was the main driver of the year-on-year decline in operating profit.
• Net debt ended the period at £133 million and gearing rose to 33%. Management expects gearing to ease after planned second-half disposals.
• The company will not pay an interim dividend, citing higher gearing and the second-half weighting of its performance.
• Henry Boot has agreed to increase its bank facility to £165 million through December 31; discussions continue on potential amendments to full-year covenants.